Gianni Di Poce just spotted a rotation happening in real time. Money is flowing out of the Dow and directly into the NASDAQ.
The amounts are nearly identical. What the Dow lost today, tech gained.
The Mag Seven ETF has done nothing since late September. Four months of sideways action. Gianni believes we may have just completed a correction through time instead of price.
That distinction matters. A time correction preserves the bullish structure while resetting sentiment. If Gianni is right, this could be the opportunity bulls have been waiting for.
The catch is we're not out of the woods yet. Gianni still needs to see a new all time high in the NASDAQ to confirm the move.
In tonight's video, Gianni breaks down:
- The NASDAQ March contract needs to close above 26,098 for its highest daily close since early November
- SMH, the semiconductor ETF, just hit another new all time high
- Crude oil is breaking above $60-62 resistance, potentially signaling a new bull market in the commodity space
- Ethereum is showing more signs of life than Bitcoin today as crypto tries to hold its higher low
Headline risk is stacking up. The Fed decision hits tomorrow. A potential government shutdown is looming. And several Mag Seven names report earnings this week.
If tech can maintain leadership beyond a day or two, Gianni sees that as a significant development for the rest of Q1.